Chapter 4 Vocab

2. Is Europe's trading bloc
3. is a global coalition of nations that make the rules governing international trade.
5. means complete standardization
6. involved hiring a foreign manufacturer to make products according to a company's specifications.
9. is the establishment of a business in a foreign country.
13. the difference in value between exports and imports is called
14. involves letting another company or licensee, use a trademark, patent, special formula, company name, or some other intellectual property for a fee or royalty
15. is a business enterprise that a domestic company and a foreign company undertake together.
16. are goods and services purchased from other countries.
19. is a total ban on specific goods coming into and leaving a country
20. is the exchange of goods and services among nations.
21. is an international trade agreement among the United States, Canada, and Mexico.

1. are midsize or smaller companies that have operations in foreign countries.
4. limits either the quantity or the monetary value of a product that may be imported
7. involves creating specially designed products or promotions for certain countries or regions.
8. are large corporations that have operations in several countries
10. are goods and services sold to other countries
11. is a company's use of an existing product or promotion from which changes are made.
12. is a tax on imports
17. this is the commercial exchange between nations that is conducted on free market principles without any regulations
18. is a governments establishment of economic policies